P2P procurement provider OpusCapita is being sold to US equity firm

Wednesday 13 March 2019 09:21 CET | News

Finland-based e-procurement OpusCapita Solutions has announced it is being sold by its parent company to Providence Equity Partners.

Terms of the deal were not disclosed, but the agreement was signed March 8 and awaits some regulatory approval, the statement said. OpusCapita provides digital solutions and transaction processing for source-to-pay cash management, and product information management. It was founded in 1984, and it has eight offices in Europe and the United States, and has 350 employees and 3,000 customers globally, according to the announcement.

In 2018, OpusCapita accounted for about 4% of Posti Groups net sales, the statement said. Posti Group, also of Finland, said it is selling OpusCapita to focus on its core business: postal, parcel, e-commerce and logistics, the announcement said. The transaction won’t require any actions from OpusCapitas customers, the statement said.

Providence, which has over USD 40 billion in aggregate capital commitments, has been investing in Europe for two decades, but the OpusCapita deal is its first growth stage software investment in Europe, the statement said.

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Keywords: OpusCapita, Providence Equity Partners, Posti Group, mergers and acquisitions, acquisition, merger, Finland, Europe, US, e-procurement, Procure-to-Pay, P2P procurement provider, source-to-pay cash management
Countries: World